Bank of America Merrill Lynch has named a new head of electronic trading strategy in fixed income – the second senior hire in its FICC trading business to come to light in less than a week.

Tom Klocker, who was head of algorithmic trading for fixed income, currencies and commodities at UBS, will join the bank in June as global head of e-trading strategy for FICC, according to two people familiar with the situation. He will report to Brice Rosenzweig in London and Leif Andersen in New York, who co-head the US bank's quant group.

Klocker could not be reached for comment.

Electronic trading is only likely to grow in importance in fixed income, as new regulations promote the automated trading of bonds and squeeze dealers’ ability to take positions on to their own books.

As part of a reshuffle following Foresti's appointment, Bernard Mensah, who previously ran FICC trading for the US bank in Emea, will move to take control of a newly-combined FICC emerging markets business.